Tim Kendall, Pinterest's president and business chief, is leaving the company at year-end of the company to start a health-focused startup, as Recode first reported and the company confirmed to Axios.

Why it matters: Pinterest is losing its head of business operations just as Recode says that it is beginning to prep for a 2018 IPO, although CEO Ben Silbermann maintains that he has no plans to go public anytime soon.